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2 <br />district requirements the tenant will need to pay 90% of the employees 160% of the federal <br />minimum wage ($11.60/hour). The company currently employs 120 full time employees and <br />staff is proposing a minimum job goal of 60. The City is estimating $700,000 in property taxes <br />per year, with $100,000 in building permits, $400,000 in trunk utility fees and $65,000 in Park <br />Dedication fees. <br />Mr. Colgan acknowledges the benefits of site for this kind of use and business along with the TIF <br />fitting the needs of the City, and being risk fee. Mr. Johnson questioned if the billboard on site <br />will be relocated if moved, and Mr. Grochala explained under a newly passed ordinance the sign <br />will be non-conforming if moved and not permitted. <br /> <br />PROJECT UPDATES <br />Mr. Grochala provided updates on projects throughout Lino Lakes. Watermark preliminary plan <br />was approved at the June Planning and Zoning board meeting. Staff is still working on a storm <br />water management plan for the area including the Watermark Development. D.R. Horton plans <br />for Woods Edge Townhomes north of City Hall, was approved at the June Planning and Zoning <br />board meeting and will proceed to City Council approval. St. Clair Estates was tabled at the June <br />Planning and Zoning board meeting and will be revisited. <br /> <br /> <br /> ADJOURNMENT <br /> <br />The meeting was adjourned at 8:55 AM.